Wednesday, October 23, 2013
The American Legal Institute is sponsoring a Webinar entitled, Elements for Successful Business Succession Planning, on October 30, 2013, at 12:30 PM – 2:00 PM ET. Provided below is a description of the event:
It’s a fact: over 70% of family and closely-held businesses do not have viable business succession plans in place. Indeed, according to the Small Business Institute, approximately the same amount do not survive the transition from original business owner to second generation!
If you represent closely-held businesses, you have likely helped your entrepreneurial clients with organizational documents to get them started on a solid footing and have probably already implemented buy-sell agreements. You may have even encouraged the owner to purchase “key man” insurance to head off catastrophe in case the owner or a highly skilled employee dies. But has your business owner fully considered what effect retirement or death will have on the business?
This CLE webcast on business succession planning is taught by esteemed faculty, Eric A. Manterfield, Krieg DeVault, Indianapolis, and Dennis I. Belcher, McGuireWoods LLP, Richmond, VA. These lawyers, who have decades of experience in implementing business succession plans, will explore the elements necessary for successful business succession planning, as well as alert you to ways to avoid income or estate tax traps that can snare unwary practitioners.